How easy is it to get a loan

[Buhrock]

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For the people who have been accepted, I'm just going to go ahead and assume you didn't pay the tuition out of pocket. So how easy is it to get a loan for pharmacy school?

 

[owlegrad]

Very

 

[crazybob]

For the people who have been accepted, I'm just going to go ahead and assume you didn't pay the tuition out of pocket. So how easy is it to get a loan for pharmacy school?

Are you worried about private loans?

 

[Buhrock]

Well I'm not really sure what the difference is. What exactly is a private loan? I just know that I will have to take a loan out every year I guess. I don't know how it works. I talked to a 3rd year pharm student and he said that he had to take a loan of about $40,000 a year since he started. Some for tuition and some to live on, since there isn't time to get a job. Is that realistic? I read on a couple of posts that people mentioned they were going to be in debt over $150,000.

 

[positivesign]

Other than tuition+fees+room&board+cost of living+etc...
What if you have to buy a car (commuting to school and rotation sites)? Is there a way to cover non-academic expenses with financial aid (federal loans) or do you have to get your own private loans for that? Sorry I'm very new to getting a loan for school and if anybody had gone through this him/herself, i would be appreciated to know how to work this out.

 

[Notecard]

Well I'm not really sure what the difference is. What exactly is a private loan? I just know that I will have to take a loan out every year I guess. I don't know how it works. I talked to a 3rd year pharm student and he said that he had to take a loan of about $40,000 a year since he started. Some for tuition and some to live on, since there isn't time to get a job. Is that realistic? I read on a couple of posts that people mentioned they were going to be in debt over $150,000.

It's slightly realistic. You'll have time for a job if you want one.

Everyone is different but don't underestimate yourself or how useful having a job in a pharmacy is. I have friends that refuse to work, friends that work 4 hours a week and friends that work 30 hours a week.

Personally being in debt scares the crap out of me so I work/save as much as possible so I can take out the smallest loans I can.

I wouldn't worry about how taking out loans works though. It's a very smooth and easy process. Look up the tuition/fees for your college and estimate your living expenses for a year. Depending on how much you work a month you can get a feel for how much you'll need to take out.

 

[Indypharm]

👍 Make sure you fill out the FAFSA by March 1 or 15...can't remember the exact deadline now and don't want to look it up. I'm supposed to be filling pyxis.

It's slightly realistic. You'll have time for a job if you want one.

Everyone is different but don't underestimate yourself or how useful having a job in a pharmacy is. I have friends that refuse to work, friends that work 4 hours a week and friends that work 30 hours a week.

Personally being in debt scares the crap out of me so I work/save as much as possible so I can take out the smallest loans I can.

I wouldn't worry about how taking out loans works though. It's a very smooth and easy process. Look up the tuition/fees for your college and estimate your living expenses for a year. Depending on how much you work a month you can get a feel for how much you'll need to take out.